VISAKHAPATNAM: In an exercise conducted by the Visakhapatnam Metropolitan Region Development Authority (VMRDA) over several months, 204 vacant plots and 134 odd bits in the layout were discovered. Early estimates put the value of these lands at 100 million. Since its establishment as a Town Planning Trust in 1962, VMRDA has developed close to 55 layouts (excluding 1 cent layout, MIG layout and reconfigured plot layout) over the past 60 years. The VMRDA team visited each of these layouts and listed the plots that had not been sold in previous auctions or were left vacant for future development purposes. Visakhapatnam Collector A. Mallikarjuna, who is also VMRDA Metropolitan Commissioner, said the town planning agency has started the plan. A transparent auction system through the e-konugolu portal developed by AP Technology Services. “VMRDA has learned that some private citizens are manipulating land prices during auctions for their own business interests. However, with the introduction of e-konugolu auctions in July 2022, The system has eliminated all such fraud. Bidders do not know the number of people participating in the auction, the bid prices of other bidders, or the final price of the lots sold in the same auction. “It not only saves human resources but also time,” he said. Mr. Mallikarjuna added that in the past one year he had as many as 10 large lands and 146 plots put up for disposal in a phased manner through e-konugolu. “Of this, the sale of 2 bulk land parcels and 58 parcels generated revenue of $512 billion for VMRDA. VMRDA announced in January that it had acquired LIG parcels in the Fortune Hills layout after obtaining necessary approvals from the government. “Out of 150 plots in LIG, allotment of 148 plots has been completed. Similarly, auction process is underway for vacant HIG and MIG plots in Fortune Hills,” he added. While some parcels are receiving bids at premium prices, in some cases almost double, compared to scrap prices, some parcels have been slow to respond. According to VMRDA officials, the land price will be determined by the existing or future potential of the location where the layout will be located, bidders' personal preferences, market trends and infrastructure in the area.
